Government to sell 25 % stake in Defense PSU

New Delhi, Aug 5: Another budget promise would be fulfilled soon. The Government of India has proposed to disinvest 25% stake in four state-owned defense PSU companies via an initial public offering (IPO) under the control of Department of Investment and Public Asset management (DIPAM).

THe IPOS would be offered for
* Mazagon Dock
* Bharat Dynamics
* Garden Reach Shipbuilders & Engineers
* Mishra Dhatu Nigam.

The department has said that the proposals for the IPO must be submitted by 3 pm on August 18. Earlier the government has successfully sold the stakes in following companies via IPO
* Cochin Ship Yard
* Hindustan Copper

The government has also said list Railway PSU on Stock markets via IPO (IRCTC, IRCON, and IRFC) through public offering sale. The Listing of General Insurance Companies is on the fast track and would be completed by next fiscal year. Let's hope that the IPO would be successful.